Patterson Cos. (NASDAQ:PDCO) declared a quarterly dividend on Tuesday, September 13th. Shareholders of record on Friday, October 14th will be given a dividend of 0.24 per share on Friday, October 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Wednesday, October 12th.
Patterson Cos. (NASDAQ:PDCO) opened at 45.92 on Tuesday. Patterson Cos. has a 12-month low of $38.51 and a 12-month high of $50.40. The firm’s 50 day moving average price is $46.05 and its 200-day moving average price is $46.61. The company has a market capitalization of $4.38 billion, a PE ratio of 22.64 and a beta of 0.94.
Patterson Cos. (NASDAQ:PDCO) last released its quarterly earnings results on Thursday, August 25th. The company reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. Patterson Cos. had a return on equity of 17.42% and a net margin of 3.52%. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter last year, the firm posted $0.47 EPS. The company’s revenue was up 15.7% compared to the same quarter last year. On average, equities analysts anticipate that Patterson Cos. will post $2.67 earnings per share for the current fiscal year.
A number of equities analysts recently weighed in on PDCO shares. Credit Suisse Group AG reissued a “buy” rating and set a $55.00 price objective on shares of Patterson Cos. in a report on Monday, June 27th. Jefferies Group reissued a “hold” rating on shares of Patterson Cos. in a report on Thursday, August 4th. Off Wall Street started coverage on Patterson Cos. in a report on Monday, August 8th. They set a “sell” rating on the stock. Zacks Investment Research cut Patterson Cos. from a “hold” rating to a “sell” rating in a report on Tuesday, August 16th. Finally, Bank of America Corp. started coverage on Patterson Cos. in a report on Wednesday, August 24th. They set an “underperform” rating and a $44.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $48.40.
In other news, insider Ann B. Gugino sold 750 shares of Patterson Cos. stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $46.22, for a total value of $34,665.00. Following the sale, the insider now directly owns 40,153 shares in the company, valued at approximately $1,855,871.66. The sale was disclosed in a filing with the SEC, which is available through this link. 0.46% of the stock is owned by insiders.
Several large investors have recently modified their holdings of PDCO. Pacad Investment Ltd. acquired a new stake in shares of Patterson Cos. during the second quarter worth $493,000. Credit Suisse AG raised its stake in shares of Patterson Cos. by 75.0% in the second quarter. Credit Suisse AG now owns 324,871 shares of the company’s stock worth $15,559,000 after buying an additional 139,216 shares in the last quarter. Cipher Capital LP raised its stake in shares of Patterson Cos. by 39.2% in the second quarter. Cipher Capital LP now owns 84,492 shares of the company’s stock worth $4,046,000 after buying an additional 23,793 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Patterson Cos. by 30.2% in the second quarter. Fifth Third Bancorp now owns 3,871 shares of the company’s stock worth $185,000 after buying an additional 899 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Patterson Cos. during the second quarter worth $650,000. Hedge funds and other institutional investors own 77.29% of the company’s stock.
Patterson Cos. Company Profile
Patterson Companies, Inc is a distributor serving the dental, veterinary and rehabilitation supply markets. The Company operates through three segments: dental supply, veterinary supply and rehabilitation supply. The dental supply segment provides a range of consumable dental products, clinical and laboratory equipment, and value-added services to dentists, dental laboratories, institutions and other dental healthcare providers across North America.
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